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China's central bank has unified the foreign exchange deposit reserve ratio for overseas and domestic financial institutions at 3 percent, effective January 15th next year.
Analysts believe the move is another government effort to tame the overheated economy and may signal the emergence of a higher foreign exchange deposit ratio.
The central bank's spokesman says the move will not have a significant impact on the country's foreign exchange reserves.
It also has something to do with the rise in US dollar interest rates.
The Federal Reserve has nudged US interest rates up a quarter of a percentage point for the fourth time this year.
(Xinhua News Agency November 12, 2004)
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